Photo Gallery: Inside the Waterline Development in Hot Miami River District
The Miami River District is one of the fastest-growing submarkets in South Florida, as developers continue to look for opportunities to build multifamily…
February 15, 2022 at 03:23 PM
2 minute read
Real Estate NewsThe Miami River District is one of the fastest-growing submarkets in South Florida, as developers continue to look for opportunities to build multifamily housing as the population grows. Mast Capital, a South Florida development and investment firm, has partnered with global real estate investment firm AEW Capital Management to launch the second phase of Waterline Miami River, a 280,000-square-foot luxury multifamily community with 346 units. The second phase of Waterline adds 342 rental units to the apartment complex. The first phase was delivered in 2020 and fully leased eight months after completion. The multifamily development features many amenities, including a fitness center, one-acre park, dog park, conference rooms, a tech hub, flex office spaces and a pet spa with a washing station. The complex is half a mile south of the Miami Health District, the second-largest health district in the country, which employs 45,000 and brings in 160,000 annual visitors. Its developer, Camilo Miguel of Mast Capital, says renters are drawn to the area because it's within 1.5 miles of downtown Miami and the Brickell Financial District, but rental rates are cheaper. Miami River continues to see a large influx of real estate investment. According to the Miami River Commission, there are an additional 6,667 approved units, five planned hotels with 1,200 new rooms and 22 restaurants in the works.
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